LORD HANSON FOUNDATION ANNUAL REPORT AND FANCIAL STATEMENTS For the year ended 5 April 2022 Registered Charity No.. 10770J4
Lord Hanson Foundation CONTENTS Page Legal and administrative infonnation R¢port of the Trustees Report of the Independent Examiner Statement of financial activities Balance sheet Notes fonning part of the financial statements 9-12
Lord Hanson Foundation Registered Charity No: 1077014 TRUSTEES The Hon Robert Hanson Alan Hagdrup E R Charles Lewis INDEPENDENT EXAMINER Fiona B Hope FCA CTA Furna¢e House Mohope Hexham Northumberland NE47 8DQ BANKERS Lloyds Bank 102a Brompton Road Knightsbridge London SW3 IJJ INVESTMENT MANAGERS JMFinn 22124 Queen Square Bristol BSI 4ND REGISTERED ADDRESS 31 Wilton Row London SWIX7NS
Lord Hanson Foundation TRUSTEES, ANNUAL REPORT The Trustees present their report and financial atements for the year ended 5 April 2022. Principal objective5 and activities for Ihe public benefit The primary stated purpose is set out in a Trust Deed and is 'lo apply the income, and all or such part or parts of the capital. at such time or times and in such manner to or for the benefits of such exclusively charitable objects and purposes in any part of the world as the Trnstees may in their discretion think fit" These purposes were met in the Current year by the making of grdnts and donations totalling £41,000. The Trustees confirni that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning fijture activities and making decisions on the awards of grants and donations during the year. Achievement5 and performance The Trustees. aims are to make a difference where they can and thi5 ha5 been a successful year. The organisations the Foundation has helped during this financial year inforn) us that our donations are valuable contributions to their ongoing survival and in particular the small charities who are finding it increasingly difficult to raise funds. Financial Review During the year, the TnteeS continued their inveslment policy of holding interest bearing funds and equities. The Trustees considered a number of charitsble projects during the year and made 19 grants or donations to various bodies lotalling £39.500 (2021 17 donations iotalling £36,500). Details of the receiving bodies are given in note 3(a) to the accounts. The Trustees have undertaken to fiu)d the David Skeggs Lecture at the Royal College of Radiologists for the next five years at an annual cost of £1.5(K). The fijll cost of this undertaking was accrued in previou5 years. The total donations made in the current year were therefore £39.500 a5 Shown in note 3(a) plus £1.500 to th¢ David Ske%Rs Lecture. The net income for the year prior to revaluation of investments was £1,942 {2021 income £8,216). Following the nel unrealised investment loss of £15,882 (2021 net investment profit of £220,236). net movement in funds for the year amounted to a deficit of £13,940 (2021 surplus £330,452). Net assets at 5 April 2022 stood at £1,605,958 (2021- £1.619.898)
Lord Hanson Foundation TRUSTEES, ANNUAL REPORT Reserves policy The unrestricted fund represents fidS arising from past events that may be expended on any of the chartty's objects. The Trustees. policy has been io maintain sufficient unresth.cted funds to enable the charity to fund its expenditure out of current income. Risk management The Trustees have assessed the major risks to which the charity is exposed. in particular those related to the operations and finances of the charity. and are satisfied that systems are in place to mitigate such exposure. Structhre governance and management The Lord Hanson Foundation was ¢stsblished by Tnt Deed dated 14 May 1999 and registered on 12 August 1999. The Trustees during the year are listed on page 3. New Trustees are appointed following an approach to suitably qualified individuals. There are no forn1 induction or training procedures for new Trustees. Referenee and administration details Details of the charity's name. its registered numEr in England, address of its principal office and names of Trustees of the charity who served during the year and up until this report was approved are provided on page 3. For and on behalf of the board of Trustees: Alan Hagdrup 26 January 2023
Lord Hanson Foundation INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LORD HANSON FOUNDATION I report on the accounts of the charity for the year ended 5 April 2022 which are set out on pagies I to 12. Respective responsibilities of Tru$t¢es xnd Examiner The charity's trustees are responsible for the preparation of the accounts. The charitNJ's trnstees consider thai an audit is not required for this year under Section 144 of the Clwities Act 2011 ("the CharÉiies Aci".) and that an indendent examination is needed. li is my responsibility to (l ) examin¢ the accounts under Section 145 of the Charities Act; (2) to follow the procedures laid down in the general Directions given to the Chariiy Commission under Section 145(5)(b) of the Charities Act: and (3) to slate whether particular matters have come to my attention. Basis of ind¢p¢ndeDt examiner's report My examination w&% carried out in accordance with the general DirectlOn5 given by the Charity Commission. An exarninalion includes a review of the accounting records kepl by the charity and a comparison of the a¢counis PTe5enied with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as irusiees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a -trne and fair view" and the report is limiied to those matters set out in the statement below. Independenl examiner's statement In LonneLlion w'ith my examination no material matters have come to my attention which gives me cause to believe that, in any malerial respect: the accounting records were not kept in accordance with section 130 of the Charities ACL or the accounts did not accord with the accounting records. or the accounts did not comply with the applicable requirements concerning the fom) and Content of accounts set out in the Charities (Accounts and Reports) Regulalions 2008 oiher than any requirement thai the accounts give a 'lrue and fair" view which is not a matter considered as part of an independent examination I have come across no other matters in connection the examination to which attention should be drawn in order to enable a proper understsnding of the accounts to be reached. ' ztncLI Fiona B Hope FCA CTA Furnace House. Mohope Hexham. Northumberlaiid NE47 8DQ 26 January 2023
Lord Hanson Foundation STATEMENT OF FINANCIAL ACTtVlTIES FOR THE YEAR ENDED 5 APRIL 2022 UNRESTRICTED FUND 2022 2021 Income Investment income 42,242 45,516 Tolal 42,242 45.516 Expenditure Raising funds Charitable activities Other Noie 3 Note 3 Not¢ 4 300 39,500 500 300 36,500 500 Total 40,300 37,300 Net Income 1.942 8,216 Gain/(Loss) on revaluation of investments Note 5 (15.882) 322,236 Net movement in funds (13.940) 330,452 Balance at April 5. 2021 1.619.898 1.289,446 Balance at April 5, 2022 1.605.958 1,619,898
Lord Hanson Foundation BALANCE SHEET AT 5 APRIL 2022 2022 2021 Fixed assets Investment portfolio Note 5 ,565,932 1,581,814 Current assets Cash at Bank and in hand 48,026 47,584 48.026 47,584 Creditors: amounts falling due within one year Note 6 (2,0(M)) {2,000) Net ¢urrent assets 46,026 45,584 Total &¥5et5 less current liabililie5 1.611,958 1,627,398 Creditors: amounts falling due after more than one year (6,(KM)) (7,500) Total assets less liabilities 1.605,958 ,619.898 Trust Fund Unrestricted fund 1.605.958 1.619,898 Total funds l.fA)5.958 ,619,898 The financial slatements were appToved and authorised for i55uc by the Board of Trust¢C5 and were signed on their bchalf by Alan Hagdrup Trustee 26 January 2023
Lord Hanson Foundation NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 l Basis of preparation Ba3iY ol'accounling These financial statements have been prepared under the hislorical cost convention with items recogni5ed at cost or transaction value unless othenvi5e stated in the relevant notes to these accounts. The accounts have been prepared in accordance with the Statement of Recommended PrdCtic¢: Accounting and Reporting by Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and with the Charities Act 2011. 2 Accounting policies Invesimenls Investments are valued initially at CO51 and subsequently at fair value (their market value) at the year end. Realised gains or losses on investments are recognised on disposal of investments and any gain or loss on revaluation is tsken to the SofFA. The deterniination of any gains and losses is calculated by reference to the value of such assets at the beginning of the accounting period. Income Investment income is derived from dividends and interest receivable from investments and is accounted for in the period in which the charity 15 entitled to receipL it is more likely than not that the tSte¢S will receive the income and the monetary value can be measured with sufficient reliability. Offselling There has been no offsetting of assets and liabilities, or income and expenditUTe. Etpendithre All expenditure is included on an accruals basis and is recognised when there is a legal or consttuctive obligation committing the Trustees to the expendire and the amount of obligation can be measured with reasonable certainty. Sialus offvnds These financial slalements include all the funds governed by the ternis of the principal Trust Deed dated 14 May 1999. The charity has one unrestricted fund which the Trnstees are free to use for any purpose in fitherance of the charitable objectives. Taraiion The charity is not registered for VAT and therefore all expenses include VAT where applicable.
Lord Hanson Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 3 Resources Expended 3 la) Charitable activities During the year the Foundation made the following donations.. 2022 2021 Hanson Research Trust Autism Initiatives Reigate Beekeepers Reading Association for the Blind Katharine House Hospice SERVE Derby Toc H Children's Camp Catzero Synthonia Scout Group St John of Jerusalem Eye Hospital Wiltshire Sight Children's Trust Tadworth Marie Curie The Children's Hospital The Norfolk Hospice Outward Bound Tendring Eldercare Church Wardens of Watton Church Mary Hare Foundation 10.000 1,000 1,000 1,000 2,000 1.000 2,000 2,000 500 1.000 1,000 5.000 2,000 5,000 500 500 1,000 1,000 2,000 10,000 ,000 1.000 1,000 2,000 1.000 2,000 2.000 500 1,000 1,000 5.000 2,000 5,(K)O 500 500 1.000 39,5(Ki 36.500 In addition to the alK)ve donations, the Foundation also paid donations of £1,500 to the Royal College of Radiologists in both the current and preceding years. This amount was fully accrued in previous years. The Foundation has committed to pay an annual amount of £1.500 for the next five years to The Royal College of Radiologists. This amount was fully accrued in Previous years. 3 (b) Raising fid5 2022 2021 Investment management costs 300 300 10
Lord Hanson Foundation NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 4 Other costs 2022 2021 Independent examinerfs costs 500 500 5 Fixed Asset Investments Quoled Jnve.s'rmen¢s 2022 2021 Market value at 6 April 2021 Unrealised(loss)/ gain on revaluation Market value at 5 April 2022 ,581.814 (15,882) 1.259,578 322,236 1,565.932 ,581,814 6 Creditors: amounts falling due within one year 2022 2021 Accruals Other creditors - donations (see below) 500 1,500 500 1,500 2,000 2,000 7 Creditors: amounts falling due after more than one year 2022 2021 Other creditors - donations (see below) 6,0(K) 7.500 6.0(K) 7,500 The liability for donations comprises a commitment to fund a lecture at The Royal College of Radiologists for the next five years at an annual cost of £1,500. 8 Fair value of assets and lfiabilities The charity is not exposed to credit risk as it has no debiors. Likewise it is not exposed to liquidity risk as it has sufficient cash available to meet its short tern) financial demands. 11
Lord Hanson Foundation NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 The charity is exposed to market risk as the majority of its assets are in quoted investments. However its assets are so much more than its Commitments that even a 500 fall in the value of the inveslments will have no short tern) impact on its ability to continue. 9 Transactions with relaled parties There have been no related party transactions in the reporting period. 12